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New Polls Highlight Uphill Deficit Battle

immigrant Wrote: Jun 17, 2012 9:56 PM
China has a timebomb coming. They also followed the Western legacy of defined benefit social security system instead of a defined contribution (like 401K) system. With the 1 child policy for the last 50 years, they will be up against fewer contributors and mushrooming retirees as the population ages.
The Pew Research Center has long highlighted some of the difficulties that Republicans and Democrats have had in getting broad agreement on some of Washington's most pressing issues. In a piece released this week, Pew's President Andrew Kohut strung together a few graphs showing the American public's attitudes on reducing the deficit. It ain't pretty.

The reluctance to cut spending, or support tax increases, was foreshadowed by reaction to the sweeping recommendations issued in December 2010 by the Simpson-Bowles deficit commission created by President Obama. The commission had called for deep cuts in military and domestic spending,...